2016 年半年度报告 公司代码：600605 公司简称：汇通能源 上海汇通能源股份有限公司 2016 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 未出席董事情况 四、 公司负责人郑树昌、主管会计工作负责人米展成及会计机构负责人（会计主管人员）龙维声 明：保证半年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 本报告中所涉及的经营计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请 投资者注意投资风险。 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况？ 否 | | 未出席董事职务 | 未出席董事姓名 | 未出席董事的原因说明 | 被委托人姓名 | | --- | --- | --- | --- | --- | | 董事 | | 施蓓 | 工作原因 | 郑树昌 | 三、 本半年度报告未经审计。 1 / 101 | 第一 ...

2016 年第一季度报告 公司代码：600605 公司简称：汇通能源 上海汇通能源股份有限公司 2016 年第一季度报告 1 / 21 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司主要财务数据和股东变化 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 11 | 2016 年第一季度报告 一、 重要提示 1.4 本公司第一季度报告未经审计。 二、 公司主要财务数据和股东变化 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | 上年度末 | 本报告期末比上 年度末增减(%) | | --- | --- | --- | --- | | 总资产 | 1,270,328,242.65 | 1,262,197,980.07 | 0.64 | | 归属于上市公司股东的净资产 | 558,722,230.67 | 555,388,917.47 | 0.60 | | | 年初至报告期末 | 上年初至上年报告期末 | 比上年同期增减 | | | | | (%) | | 经营活动产生的现金流量净额 | -42,477,448.99 | -7 ...

2015 年年度报告 公司代码：600605 公司简称：汇通能源 上海汇通能源股份有限公司 2015 年年度报告 重要提示 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 公司拟实施的2015年度利润分配预案为：以2015年12月31日公司总股本147,344,592股为基数 ，向全体股东每10股派发现金红利0.21元（含税），共计派发现金3,094,236.43元（含税），2015 年资本公积金不转增股本，剩余未分配利润结转下年度分配。 六、 前瞻性陈述的风险声明 本报告中所涉及的经营计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请 投资者注意投资风险 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况？ 否 九、 重大风险提示 1、风电行业风险：由于公司将未来发展战略定位于成为以风力发电业务为主的新能源类上市 公司。公司将面临风电行业特有的行业风险：风电企业是将风能转化为电能的生产型企业，其对 风场资源的依赖性较强，由于风速具有季节性、波动性的特点，因此能否取得优质风场资源以及 1 / 112 一、 本公司董事会、监事会及董 ...

2015 年第三季度报告 公司代码：600605 公司简称：汇通能源 上海汇通能源股份有限公司 2015 年第三季度报告 1 / 21 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司主要财务数据和股东变化 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 10 | 2015 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员应当保证季度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人郑树昌、主管会计工作负责人米展成及会计机构负责人（会计主管人员）龙维保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司主要财务数据和股东变化 2.1 主要财务数据 3 / 21 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年 度末增减(%) 总资产 1,237,647,171.05 927,525,689.23 33.44 归 ...

Financial Performance - The company's operating revenue for the first half of 2015 was ¥688,370,758.78, a decrease of 34.32% compared to ¥1,048,081,532.77 in the same period last year[17]. - Net profit attributable to shareholders increased by 132.50% to ¥7,478,499.29 from ¥3,216,513.56 year-on-year[17]. - The net profit after deducting non-recurring gains and losses rose by 205.02% to ¥6,427,661.26 compared to ¥2,107,273.83 in the previous year[17]. - Basic and diluted earnings per share increased by 131.82% to ¥0.051 from ¥0.022 year-on-year[18]. - The weighted average return on net assets rose to 1.529% from 0.668%, an increase of 0.861 percentage points[18]. - Total assets increased by 29.01% to ¥1,196,633,832.44 from ¥927,525,689.23 at the end of the previous year[17]. - Net profit for the first half of 2015 was CNY 7.48 million, representing a year-on-year increase of 132.50%[23]. - The gross profit margin for the wind power segment increased by 11.84 percentage points compared to the previous year[29]. Cash Flow and Investments - The net cash flow from operating activities decreased by 84.10% to ¥18,157,701.45 from ¥114,209,003.64 in the same period last year[17]. - The company’s investment activities resulted in a net cash outflow of CNY 55.11 million, primarily due to payments for wind power equipment[27]. - The company’s financing activities generated a net cash inflow of CNY 175.69 million, attributed to new bank loans[27]. - The company reported a net cash flow from operating activities of CNY 18.16 million, a decline of 84.10% year-on-year[27]. - The company generated 909,801,119.50 in cash from sales of goods and services, a decrease of approximately 30% compared to 1,292,604,651.82 in the previous year[88]. - The company reported a cash outflow of 895,100,207.36 from operating activities, down from 1,181,820,759.97 in the same period last year, indicating a reduction of about 24%[89]. Revenue Sources - The increase in profits was primarily driven by the wind power industry and rental income from properties[18]. - Wind power project revenue reached CNY 27.02 million, up 12.22% year-on-year, with a gross profit margin of 56.92%[29]. - Trade business revenue decreased to CNY 644.67 million, down 36.21% from the previous year[29]. - Property rental income increased by 32.26% to CNY 5.14 million, with a gross profit margin of 76.43%[29]. Legal and Compliance Issues - The company is involved in multiple lawsuits related to lease agreements, with claims including penalties of 96,600 CNY and daily rental fees of 1,610 CNY[44]. - The court ruled in favor of the plaintiff, requiring the defendants to vacate the leased properties within two months and pay daily rental fees of 3,220 CNY from August 16, 2012, until the property is returned[44]. - The company has ongoing legal proceedings related to rental agreements that have not been fulfilled by the lessees[46]. - The company has incurred legal costs related to the disputes, which are to be borne by the defendants[46]. Shareholder Information - The total number of shareholders as of the end of the reporting period is 11,538[63]. - The largest shareholder, Shanghai Hongchangsheng Group Co., Ltd., holds 48,373,895 shares, accounting for 32.83% of the total shares[65]. - The company plans to distribute dividends in cash, stock, or a combination of both, with a minimum cash distribution of 30% of the distributable profit for the years 2012-2014[56]. Asset Management and Strategy - The company is focusing on enhancing property management capabilities to improve profitability[24]. - The company has established a comprehensive internal control system, enhancing its management processes and ensuring compliance with regulatory requirements[32]. - The company is focusing on expanding its market presence and enhancing its product offerings, although specific new products or technologies were not detailed in the report[70]. - The company’s focus on asset management and investment management suggests a strategy aimed at maximizing returns on investments[107]. Accounting Policies and Financial Reporting - The financial statements are prepared in accordance with the Accounting Standards for Business Enterprises issued by the Ministry of Finance[110]. - The company recognizes goodwill when the initial investment cost exceeds the fair value of identifiable net assets acquired in a non-common control merger[116]. - The company applies the aging analysis method to provision for bad debts, with a 100% provision rate for receivables over 4 years old[138]. - The company recognizes impairment losses for held-to-maturity investments based on the difference between their carrying amount and the present value of expected future cash flows[136]. Corporate Governance - The company has appointed new independent directors, indicating a potential shift in governance and strategic direction[70]. - The company has established a corporate culture team to enhance communication and cohesion within the organization, contributing to its soft power[33]. - The company has not reported any significant penalties or corrective actions involving its directors, supervisors, or senior management[60].

2015 年第一季度报告 公司代码：600605 公司简称：汇通能源 上海汇通能源股份有限公司 2015 年第一季度报告 1 / 21 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司主要财务数据和股东变化 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 11 | 2015 年第一季度报告 一、 重要提示 1.4 本公司第一季度报告未经审计。 二、 公司主要财务数据和股东变化 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | 上年度末 | 本报告期末比上年度 末增减(%) | | | --- | --- | --- | --- | --- | | 总资产 | 1,004,855,772.71 | 927,525,689.23 | | 8.34 | | 归属于上市公司股东的净资产 | 488,450,897.95 | 485,334,827.78 | | 0.64 | | | 年初至报告期末 | 上年初至上年报告期 末 | 比上年同期增减(%) | | | 经营活动产生的现金流量净额 | -7,735,954.67 | 8 ...

Financial Performance - The company's operating revenue for 2014 was approximately CNY 2.12 billion, a decrease of 3.27% compared to CNY 2.19 billion in 2013[26]. - The net profit attributable to shareholders for 2014 was CNY 7.96 million, representing a 19.52% increase from CNY 6.66 million in 2013[26]. - The net cash flow from operating activities improved significantly to CNY 145.52 million in 2014, compared to a negative cash flow of CNY 27.42 million in 2013, marking a 630.78% increase[26]. - The total assets of the company at the end of 2014 were CNY 927.53 million, reflecting a 7.78% increase from CNY 860.60 million at the end of 2013[26]. - The company’s weighted average return on equity increased to 1.65% in 2014, up from 1.39% in 2013, an increase of 0.254 percentage points[27]. - The basic earnings per share for 2014 was CNY 0.054, a 19.47% increase from CNY 0.0452 in 2013[27]. - The company reported a significant increase in net profit after deducting non-recurring gains and losses, reaching CNY 3.64 million in 2014, a 126.37% increase from CNY 1.61 million in 2013[26]. - In 2014, the company achieved a total revenue of 2.123 billion RMB, with a net profit of 7.9582 million RMB, representing a year-on-year growth of 19.52%[32]. Dividend Policy - The company plans to distribute a cash dividend of 0.17 CNY per 10 shares, totaling 2,504,858.06 CNY for the year 2014[2]. - The company will not convert its capital reserve into share capital for 2014, with remaining undistributed profits carried forward to the next year[2]. - The company reported a cash dividend of 0.15 RMB per 10 shares for 2013, totaling 2,210,110.75 RMB, which accounted for 33.19% of the net profit attributable to shareholders[75]. - For 2014, the proposed cash dividend is 0.17 RMB per 10 shares, totaling 2,504,858.06 RMB, representing 31.48% of the net profit attributable to shareholders[78]. - The company has established a complete cash dividend policy, ensuring transparency and protection of minority shareholders' rights during the decision-making process[75]. Wind Power Operations - The company operates the Inner Mongolia Zhuozi Bayin Xile Wind Farm, which has an average wind speed of 9.8 m/s at 65m height and 10.0 m/s at 74m height, indicating a strong wind resource[9]. - The company emphasizes the importance of high-quality wind resources for sustainable development in the wind power sector[9]. - The company is classified as a capital-intensive enterprise, requiring significant investment in large wind power equipment[9]. - The company has successfully connected its first phase wind farm in Inner Mongolia to the grid and is progressing with the second phase project, which has received project approval[20]. - The company is actively preparing for the second phase of the wind power project, with site selection and equipment procurement already completed[34]. - The company aims to complete the construction and operation of the second phase of the wind power project to create greater profit margins[60]. - The company's wind power project has entered a stable operation phase, generating significant profits, with the second phase of the wind power project under active construction[52]. Risk Management - The company emphasizes risk prevention in its trading department due to the declining copper prices, which fell from 52,500 yuan to around 44,500 yuan[59]. - The company has implemented stricter trade supervision to manage risks associated with market fluctuations[40]. - The company acknowledges the risks associated with wind resource fluctuations and the impact on profitability, emphasizing the need for effective risk management strategies[67]. - The company is focused on establishing a comprehensive internal control system over the next five years to mitigate risks and prevent fraud, ensuring compliance and asset security[64]. - The company emphasizes the importance of financial risk management, aiming to improve capital turnover and optimize resource allocation to support its expanding investment needs[68]. Corporate Governance - The company has received a standard unqualified audit report from its accounting firm[3]. - The company has maintained independence from its controlling shareholder in business, personnel, assets, and financial aspects[152]. - The board of directors is responsible for establishing and implementing effective internal controls, with the supervisory board overseeing this process[155]. - The company has established a framework for related party transactions to ensure compliance with market pricing standards[89]. - The company ensures equal treatment of all shareholders, particularly minority shareholders, in accordance with legal requirements[138]. - The company has a total of 4 specialized committees under the board of directors, including the Strategy Development Committee and the Audit Committee[140]. Social Responsibility - The company emphasizes its commitment to social responsibility, ensuring accurate information disclosure and protecting shareholder interests[79]. - The company donated a total of 48,000 RMB to support 11 underprivileged students in 2014[80]. - The company actively fulfills its corporate social responsibility by organizing targeted charitable activities for impoverished students[80]. - The company emphasizes the importance of social harmony while developing its business[80]. Market and Investment Strategy - The company aims to transform into a significant player in the renewable energy sector, particularly in wind power, leveraging government support and policy incentives[34]. - The company plans to enhance its property leasing business by conducting market research and optimizing property design to attract strong clients[60]. - The company is focusing on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[164]. - The company plans to invest a total budget of CNY 350.48 million for the Phase II project of the 49.5MW wind farm, with CNY 200 million expected to be financed through bank loans[65]. Financial Adjustments and Compliance - The company implemented changes to its accounting policies, adopting eight new accounting standards effective from January 26, 2014, which did not affect the net assets at the beginning or end of the year[70]. - The company adjusted the classification of long-term equity investments, impacting only the presentation of financial statements without affecting net assets[71]. - The company’s long-term prepaid expenses were reclassified, which also did not impact net assets[72]. - The company’s adjustments to tax payable balances were reflected in non-current assets, maintaining net asset integrity[73]. - The company made adjustments to its financial reporting standards, which did not affect the net assets at the beginning or end of the year[108].

2014 年第三季度报告 上海汇通能源股份有限公司 2014 年第三季度报告 1 / 22 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司主要财务数据和股东变化 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 11 | 2014 年第三季度报告 一、 重要提示 二、 公司主要财务数据和股东变化 2.1 主要财务数据 3 / 22 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上 年度末增减(%) 总资产 935,893,706.75 829,021,163.46 12.89 归属于上市公司股东的净资产 480,295,860.15 479,586,701.40 0.15 年初至报告期末 （1-9 月） 上年初至上年报告 期末（1-9 月） 比上年同期增减 (%) 经营活动产生的现金流量净额 95,792,667.11 22,997,375.50 316.54 年初至报告期末 （1-9 月） 上年初至上年报告 期末 （1-9 月） 比上年同期增减 （%） 营业收入 1,602,699,443.65 ...

[Definitions](index=3&type=section&id=Section%20I.%20Definitions) This section provides definitions of key terms used throughout the report [Company Profile](index=4&type=section&id=Section%20II.%20Company%20Profile) This section introduces the company's basic information and overall profile [Company Information](index=4&type=section&id=Company%20Information) This chapter provides basic information about Shanghai Huitong Energy Co., Ltd., including its name, legal representative, contact details, registered and office addresses, information disclosure channels, and stock overview Company Basic Information | Item | Information | | :--- | :--- | | **Company Chinese Name** | 上海汇通能源股份有限公司 (Abbreviation: 汇通能源) | | **Company English Name** | SHANGHAI HUITONG ENERGY CO.,LTD | | **Legal Representative** | Zheng Shuchang | | **Stock Exchange** | Shanghai Stock Exchange | | **Stock Abbreviation** | Huitong Energy | | **Stock Code** | 600605 | [Summary of Core Financial Data](index=5&type=section&id=Section%20III.%20Summary%20of%20Accounting%20Data%20and%20Financial%20Indicators) This section presents a summary of the company's key accounting data and financial performance indicators [Key Accounting Data and Financial Indicators](index=5&type=section&id=Key%20Accounting%20Data%20and%20Financial%20Indicators) The company reported 1.048 billion yuan in revenue and 3.2165 million yuan in net profit for H1 2014, with operating cash flow significantly increasing 2014 H1 Key Accounting Data (Unit: Yuan) | Key Accounting Data | Current Period (Jan-Jun) | Prior Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,048,081,532.77 | 1,032,015,073.29 | 1.56 | | Net Profit Attributable to Shareholders | 3,216,513.56 | 6,677,897.28 | -51.83 | | Net Profit Excluding Non-recurring Items | 2,107,273.83 | 2,721,947.28 | -22.58 | | Net Cash Flow from Operating Activities | 114,209,003.64 | 2,172,801.42 | 5,156.30 | | **Asset Status** | **End of Current Period** | **End of Prior Year** | **Period-end vs. Prior Year-end Change (%)** | | Net Assets Attributable to Shareholders | 482,803,214.96 | 479,586,701.40 | 0.67 | | Total Assets | 943,109,306.54 | 829,021,163.46 | 13.76 | 2014 H1 Key Financial Indicators | Key Financial Indicators | Current Period (Jan-Jun) | Prior Period | YoY Change | | :--- | :--- | :--- | :--- | | Basic EPS (Yuan/share) | 0.022 | 0.045 | -51.11% | | Diluted EPS (Yuan/share) | 0.022 | 0.045 | -51.11% | | Basic EPS Excluding Non-recurring Items (Yuan/share) | 0.014 | 0.018 | -22.22% | | Weighted Average ROE (%) | 0.668 | 1.396 | Decreased by 0.726 percentage points | | Weighted Average ROE Excluding Non-recurring Items (%) | 0.438 | 0.569 | Decreased by 0.131 percentage points | [Non-recurring Gains and Losses Items and Amounts](index=5&type=section&id=Non-recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) During the reporting period, the company's total non-recurring gains and losses amounted to 1.1092 million yuan, primarily from government subsidies and other non-operating income and expenses Non-recurring Gains and Losses Items (Unit: Yuan) | Non-recurring Gains and Losses Item | Amount | | :--- | :--- | | Government Subsidies Included in Current Profit/Loss | 707,600.00 | | Other Non-operating Income and Expenses | 911,695.71 | | Income Tax Impact | -510,055.98 | | **Total** | **1,109,239.73** | [Board of Directors' Report](index=6&type=section&id=Section%20IV.%20Board%20of%20Directors'%20Report) This section provides the Board of Directors' discussion and analysis of the company's operations and financial performance [Discussion and Analysis of Operations](index=6&type=section&id=I.%20Board%20of%20Directors'%20Discussion%20and%20Analysis%20of%20the%20Company's%20Operations%20During%20the%20Reporting%20Period) The company's H1 2014 operations saw 1.048 billion yuan in revenue and 3.2165 million yuan in net profit, with varied performance across wind power, trade, and property segments - Company's three main business segments' operating performance: - **Wind Power Business**: Operating revenue of **24.0747 million yuan** in H1, a **10.60% year-on-year decrease** due to wind speed, but gross margin still reached **45.09%**[15](index=15&type=chunk) - **Trade Business**: As the primary revenue source, achieved **1.011 billion yuan** in revenue, a **1.74% year-on-year increase**, with a gross profit of **8.0536 million yuan**, focusing on risk control[16](index=16&type=chunk)[19](index=19&type=chunk) - **Property and Real Estate Business**: Property management revenue was **0.7884 million yuan**, a **1.36% year-on-year increase**; real estate leasing revenue was **3.8838 million yuan**, a **4.46% year-on-year increase**[19](index=19&type=chunk) [(I) Analysis of Main Business](index=6&type=section&id=(I)%20Analysis%20of%20Main%20Business) Administrative expenses decreased by 28.48% due to intangible asset amortization, while operating cash flow surged by 5156.30% due to increased payables Financial Statement Key Account Changes (Unit: Yuan) | Account | Current Period Amount | Prior Period Amount | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,048,081,532.77 | 1,032,015,073.29 | 1.56 | | Administrative Expenses | 12,281,821.84 | 17,172,307.70 | -28.48 | | Net Cash Flow from Operating Activities | 114,209,003.64 | 2,172,801.42 | 5,156.30 | | Net Cash Flow from Investing Activities | -739,742.71 | -1,708,287.71 | 56.70 | [(II) Analysis of Operations by Industry, Product, or Region](index=7&type=section&id=(II)%20Analysis%20of%20Operations%20by%20Industry,%20Product,%20or%20Region) Trade revenue was 1.011 billion yuan (0.80% gross margin), wind power 24.07 million yuan (45.09% gross margin, but down 10.60% YoY), with Shanghai contributing most revenue Main Business by Product (Unit: Yuan) | By Product | Operating Revenue | Operating Cost | Gross Margin (%) | YoY Change in Operating Revenue (%) | | :--- | :--- | :--- | :--- | :--- | | Trade Products | 1,010,604,548.31 | 1,002,550,985.39 | 0.80 | 1.74 | | Wind Power Generation | 24,074,662.80 | 13,220,203.93 | 45.09 | -10.60 | | Property Management | 788,409.41 | 425,354.30 | 46.05 | 1.36 | | Real Estate Leasing | 3,883,848.52 | 1,106,557.02 | 71.51 | 4.46 | Main Business by Region (Unit: Yuan) | Region | Operating Revenue | YoY Change in Operating Revenue (%) | | :--- | :--- | :--- | | Shanghai Region | 1,015,276,806.24 | 1.75 | | Inner Mongolia Autonomous Region | 24,074,662.80 | -10.60 | [(III) Analysis of Investment Status](index=7&type=section&id=(III)%20Analysis%20of%20Investment%20Status) No new major external investments or entrusted funds; main subsidiary Zhuozi Wind Power achieved 3.12 million yuan net profit - Main subsidiary Zhuozi Wind Power (operating wind power generation) achieved **24.07 million yuan** in operating revenue and **3.12 million yuan** in net profit in H1 2014[22](index=22&type=chunk) [Profit Distribution or Capital Reserve to Share Capital Increase Plan](index=8&type=section&id=II.%20Profit%20Distribution%20or%20Capital%20Reserve%20to%20Share%20Capital%20Increase%20Plan) The company implemented its 2013 profit distribution, paying 0.15 yuan cash dividend per 10 shares, totaling 2.1554 million yuan - 2013 profit distribution plan: a cash dividend of **0.15 yuan (tax inclusive) per 10 shares**, with no capital reserve to share capital increase[23](index=23&type=chunk) [Significant Matters](index=9&type=section&id=Section%20V.%20Significant%20Matters) This section details significant events and transactions impacting the company during the reporting period [Major Litigation, Arbitration, and Matters of Widespread Media Questioning](index=9&type=section&id=I.%20Major%20Litigation,%20Arbitration,%20and%20Matters%20of%20Widespread%20Media%20Questioning) The company was involved in multiple successful housing lease contract disputes as plaintiff, now in enforcement - The company, as plaintiff, was involved in multiple housing lease contract disputes, all of which have been won and are now in the enforcement stage[26](index=26&type=chunk)[27](index=27&type=chunk) [Significant Related Party Transactions](index=11&type=section&id=V.%20Significant%20Related%20Party%20Transactions) Significant related party transactions included property management services provided to the controlling shareholder, totaling 34,739.16 yuan - The company provided property management services to its controlling shareholder, Hongchangsheng Group, constituting a routine related party transaction of **34,739.16 yuan**[31](index=31&type=chunk) [Significant Contracts and Their Performance](index=12&type=section&id=VI.%20Significant%20Contracts%20and%20Their%20Performance) Total guarantees for subsidiaries amounted to 140 million yuan, representing 29.00% of net assets, with no guarantees for related parties Company Guarantee Status | Guarantee Item | Amount (Yuan) | | :--- | :--- | | Total Guarantee Balance for Subsidiaries at Period-end | 140,000,000.00 | | Ratio of Total Guarantees to Company's Net Assets (%) | 29.00 | [Fulfillment of Commitments](index=12&type=section&id=VII.%20Fulfillment%20of%20Commitments) Controlling shareholder and actual controller fulfilled non-compete commitments; company met 2012-2014 cash dividend pledge - The controlling shareholder and actual controller fulfilled their long-term commitment to avoid horizontal competition[34](index=34&type=chunk) - The company fulfilled its 2012-2014 commitment to cash dividends of no less than **30%** of annual distributable profits[35](index=35&type=chunk) [Corporate Governance](index=14&type=section&id=X.%20Corporate%20Governance) The company maintained strong corporate governance, ensuring equal shareholder rights and transparent information disclosure - The company's governance structure ensures the rights of all shareholders, especially minority shareholders, with the controlling shareholder not interfering in company decisions or operations[36](index=36&type=chunk) - The company strictly adheres to the "fair, just, and open" principles of information disclosure, ensuring equal access to information for all shareholders[38](index=38&type=chunk) [Share Changes and Shareholder Information](index=16&type=section&id=Section%20VI.%20Share%20Changes%20and%20Shareholder%20Information) This section details changes in the company's share capital and information regarding its shareholders [Share Capital Changes](index=16&type=section&id=I.%20Share%20Capital%20Changes) Total share capital remained unchanged at 147,344,592 unrestricted tradable shares during the reporting period - The company's total share capital remained unchanged at **147,344,592 shares** during the reporting period, all of which are unrestricted tradable shares[42](index=42&type=chunk) [Shareholder Information](index=16&type=section&id=II.%20Shareholder%20Information) The company had 14,804 shareholders; controlling shareholder Hongchangsheng Group held 32.83%, with 48 million shares pledged Top Ten Shareholders' Shareholding Status | Shareholder Name | Shareholding Ratio (%) | Total Shares Held | Pledged or Frozen Shares | | :--- | :--- | :--- | :--- | | Shanghai Hongchangsheng Group Co., Ltd. | 32.83 | 48,373,895 | 48,000,000 | | Oriental International (Group) Co., Ltd. | 6.50 | 9,572,589 | Unknown | | Bao Chunling | 3.70 | 5,455,102 | Unknown | | Zhongtai Trust Co., Ltd. | 2.86 | 4,214,485 | Unknown | | Shanghai Honglun Investment Co., Ltd. | 2.70 | 3,979,561 | 3,979,561 | [Preferred Shares Information](index=18&type=section&id=Section%20VII.%20Preferred%20Shares%20Information) This section provides information regarding the company's preferred shares [Preferred Shares](index=18&type=section&id=Preferred%20Shares) During the current reporting period, the company had no preferred share-related matters [Directors, Supervisors, and Senior Management Information](index=19&type=section&id=Section%20VIII.%20Directors,%20Supervisors,%20and%20Senior%20Management%20Information) This section provides details on the company's directors, supervisors, and senior management [Shareholdings and Personnel Changes](index=19&type=section&id=Shareholdings%20and%20Personnel%20Changes) During the reporting period, there were no changes in the shareholdings of the company's directors, supervisors, and senior management, nor were there any personnel changes - During the reporting period, there were no changes in the shareholdings or personnel of the company's directors, supervisors, and senior management[48](index=48&type=chunk) [Financial Report (Unaudited)](index=20&type=section&id=Section%20IX.%20Financial%20Report%20(Unaudited)) This section presents the company's unaudited financial statements for the reporting period [Financial Statements](index=20&type=section&id=I.%20Financial%20Statements) This chapter includes the company's unaudited consolidated and parent company financial statements as of June 30, 2014 [Significant Accounting Policies, Accounting Estimates, and Prior Period Errors](index=38&type=section&id=III.%20Significant%20Accounting%20Policies,%20Accounting%20Estimates,%20and%20Prior%20Period%20Errors) This chapter details the company's significant accounting policies and estimates, including revenue recognition and bad debt provisions, with no major changes - Financial statements are prepared on a going concern basis, adhering to enterprise accounting standards[79](index=79&type=chunk)[80](index=80&type=chunk) - Provisions for bad debts on receivables are primarily based on aging analysis, with **0.5%** for within 1 year and **100%** for over 5 years[107](index=107&type=chunk) - Revenue recognition follows the accrual basis, with sales revenue recognized when the significant risks and rewards of ownership are transferred[134](index=134&type=chunk)[135](index=135&type=chunk) [Supplementary Information](index=90&type=section&id=XII.%20Supplementary%20Information) This chapter provides non-recurring gains/losses details, ROE/EPS calculations, and explanations for abnormal financial item fluctuations Net Assets Return and Earnings Per Share | Profit for the Period | Weighted Average ROE (%) | Basic EPS | Diluted EPS | | :--- | :--- | :--- | :--- | | Net Profit Attributable to Ordinary Shareholders | 0.668 | 0.022 | 0.022 | | Net Profit Attributable to Ordinary Shareholders Excluding Non-recurring Items | 0.438 | 0.014 | 0.014 | Explanation of Abnormal Fluctuations in Key Financial Statement Items | Item | Change (%) | Main Reason | | :--- | :--- | :--- | | Cash and Cash Equivalents | 601.51 | Increase in net cash flow from operating activities, primarily due to an increase in operating payables | | Prepayments | 24210.33 | Primarily due to unsettled trade purchase payments | | Notes Payable | 1050.00 | The company issued bank acceptance bills in the current period | | Advances from Customers | 280.35 | Primarily due to unsettled trade sales receipts | | Investment Income | -981.71 | Decrease in profit from associate company Tianxiang Jiantai in the current period | [Catalogue of Documents for Reference](index=92&type=section&id=Section%20X.%20Catalogue%20of%20Documents%20for%20Reference) This section lists documents available for public inspection

[Important Notice](index=3&type=section&id=Item%20I.%20Important%20Notice) This section outlines the company's commitment to the accuracy and completeness of its quarterly report, emphasizing that the financial statements are unaudited [Management Statement](index=3&type=section&id=1.1%20Board%20of%20Directors%2C%20Supervisory%20Board%2C%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management%20Guarantee%20Truthfulness%2C%20Accuracy%2C%20and%20Completeness%20of%20Quarterly%20Report) The Board of Directors, Supervisory Board, and senior management collectively guarantee the truthfulness, accuracy, and completeness of this quarterly report, confirming no false records, misleading statements, or material omissions, and noting that the financial statements are unaudited - The company's responsible person Zheng Shuchang, chief accountant Mi Zhancheng, and head of accounting department Long Wei guarantee the truthfulness, accuracy, and completeness of the financial statements in the quarterly report[6](index=6&type=chunk) - The financial statements in the company's first quarterly report are unaudited[7](index=7&type=chunk) [Company's Key Financial Data and Shareholder Changes](index=4&type=section&id=Item%20II.%20Company's%20Key%20Financial%20Data%20and%20Shareholder%20Changes) This section details the company's significant financial performance improvements in Q1 2014, including revenue and net profit growth, alongside an overview of shareholder structure [Key Financial Data](index=4&type=section&id=2.1%20Key%20Financial%20Data) In Q1 2014, the company achieved significant performance growth, with revenue increasing by 11.30% to RMB 537.80 million, net profit attributable to shareholders surging by 173.88% to RMB 2.40 million, and net cash flow from operating activities turning positive to RMB 81.38 million Key Financial Performance Indicators | Indicator | Current Period (Jan-Mar) | Prior Year Period (Jan-Mar) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | RMB 537,799,244.04 | RMB 483,205,393.82 | 11.30% | | Net Profit Attributable to Shareholders | RMB 2,400,805.28 | RMB 876,576.42 | 173.88% | | Net Cash Flow from Operating Activities | RMB 81,378,032.21 | -RMB 2,229,055.38 | 3,750.79% | | Basic Earnings Per Share (RMB/share) | 0.016 RMB | 0.006 RMB | 166.67% | | Weighted Average Return on Net Assets | 0.499% | 0.184% | Increase of 0.315 percentage points | | **Asset Status** | **End of Current Period** | **End of Prior Year** | **Period-end vs. Year-start Change (%)** | | Total Assets | RMB 894,268,496.45 | RMB 829,021,163.46 | 7.87% | | Net Assets Attributable to Shareholders | RMB 481,987,506.68 | RMB 479,586,701.40 | 0.50% | Non-Recurring Gains and Losses | Item | Current Period Amount (Jan-Mar) | Explanation | | :--- | :--- | :--- | | Government grants included in current profit/loss | RMB 680,300.00 | Government support funds | | Other non-operating income and expenses excluding the above | RMB 1,624,115.71 | | | Income tax impact | -RMB 681,335.98 | | | **Total** | **RMB 1,623,079.73** | | [Shareholder Information](index=4&type=section&id=2.2%20Total%20Number%20of%20Shareholders%2C%20Top%20Ten%20Shareholders%2C%20and%20Shareholding%20of%20Top%20Ten%20Shareholders%20with%20No%20Sales%20Restrictions%20as%20of%20the%20End%20of%20the%20Reporting%20Period) As of the reporting period end, the company had 14,372 shareholders, with Shanghai Hongchangcheng Group Co., Ltd. being the largest shareholder at 32.83% ownership, a significant portion of which is pledged - As of the end of the reporting period, the company had **14,372 shareholders**[12](index=12&type=chunk) Top Shareholder Information | Shareholder Name | Shareholding Ratio (%) | Total Shares Held | Pledged or Frozen Shares | | :--- | :--- | :--- | :--- | | Shanghai Hongchangcheng Group Co., Ltd. | 32.83% | 48,373,895 | 48,000,000 | - The company's controlling shareholder, Shanghai Hongchangcheng Group, has no related party relationship or acting in concert relationship with the other top nine circulating shareholders[13](index=13&type=chunk) [Significant Matters](index=6&type=section&id=Item%20III.%20Significant%20Matters) This section details the significant changes in the company's key financial statement items and indicators during the reporting period, along with their underlying reasons [Explanation of Significant Changes in Key Financial Statement Items and Financial Indicators](index=6&type=section&id=3.1%20Significant%20Changes%20and%20Reasons%20for%20Key%20Financial%20Statement%20Items%20and%20Financial%20Indicators) During the reporting period, several financial statement items experienced significant changes, including a 451.77% increase in monetary funds due to improved operating cash flow, a 16630.90% surge in prepayments from unsettled trade purchases, and a 700.00% rise in notes payable due to increased bank acceptance bills Major Financial Item Changes and Reasons | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Monetary Funds | 451.77% | Increase in net cash flow from operating activities | | Prepayments | 16630.90% | Increase in payments for unsettled trade purchases | | Notes Payable | 700.00% | Issuance of RMB 70 million in bank acceptance bills during the period | | Investment Income | -704.90% | Decrease in profit from associate Shanghai Tianxiang Jiantai Pharmaceutical Machinery Co., Ltd. during the period | | Non-operating Income | 90.02% | Liquidation gain from deregistration of a wholly-owned subsidiary | | Cash Received from Borrowings | 133.33% | Increase in bank borrowings obtained during the period | [Appendix: Financial Statements](index=8&type=section&id=Item%20IV.%20Appendix) This section provides the complete set of financial statements, including the consolidated balance sheet, income statement, and cash flow statement, along with the parent company's financial statements [Consolidated Balance Sheet](index=8&type=section&id=Consolidated%20Balance%20Sheet) As of March 31, 2014, the company's total assets were RMB 894.27 million, a 7.87% increase from the beginning of the year, while total liabilities reached RMB 412.28 million, up 17.98%, primarily driven by notes payable and short-term borrowings Consolidated Balance Sheet Summary | Item | Period-end Balance (RMB) | Year-start Balance (RMB) | | :--- | :--- | :--- | | Total Assets | 894,268,496.45 | 829,021,163.46 | | Total Liabilities | 412,280,989.77 | 349,434,462.06 | | Total Equity Attributable to Parent Company Shareholders | 481,987,506.68 | 479,586,701.40 | [Consolidated Income Statement](index=12&type=section&id=Consolidated%20Income%20Statement) In Q1 2014, the company achieved total operating revenue of RMB 537.80 million, an 11.30% year-over-year increase, with operating costs at RMB 525 million, resulting in a net profit attributable to parent company shareholders of RMB 2.40 million, a significant 173.88% increase from the prior year Consolidated Income Statement Summary | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 537,799,244.04 | 483,205,393.82 | | Total Operating Costs | 536,753,392.12 | 482,970,227.80 | | Operating Profit | 867,064.11 | 264,722.62 | | Total Profit | 3,171,479.82 | 1,483,722.62 | | Net Profit | 2,400,805.28 | 876,576.42 | [Consolidated Cash Flow Statement](index=14&type=section&id=Consolidated%20Cash%20Flow%20Statement) In Q1 2014, net cash flow from operating activities significantly improved to RMB 81.38 million from a negative RMB 2.23 million in the prior year, while net cash flow from financing activities was negative RMB 15.29 million, leading to an ending cash and cash equivalents balance of RMB 80.22 million Consolidated Cash Flow Statement Summary | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 81,378,032.21 | -2,229,055.38 | | Net Cash Flow from Investing Activities | -403,517.24 | -464,049.40 | | Net Cash Flow from Financing Activities | -15,293,899.34 | -56,463,312.23 | | Net Increase in Cash and Cash Equivalents | 65,680,615.63 | -59,156,417.01 | [Parent Company Financial Statements](index=10&type=section&id=Parent%20Company%20Financial%20Statements) The appendix also includes the parent company's balance sheet, income statement, and cash flow statement, providing non-consolidated financial data for a comprehensive view of the company's financial position and operating results - The report appendix includes the parent company balance sheet, parent company income statement, and parent company cash flow statement, providing non-consolidated financial data[22](index=22&type=chunk)[30](index=30&type=chunk)[36](index=36&type=chunk)